Bank of America Merrill Lynch upgraded Melrose on Tuesday to ‘buy’ from ‘neutral’ and lifted the price target to 181p from 160p.
Source: Sharecast
The bank pointed to an improved outlook for the company’s aerospace business.
BofA said it now has more confidence in Melrose’s mid-term target of 14% Ebit margins.
It also said that widebody production increases at Airbus, improving engine production rates and aftermarket momentum support the company’s growth outlook.
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